Walmart Pays $282 Million to Settle Federal Foreign Bribery Case

by MR Magazine Staff

Walmart Inc. has agreed to pay $282 million in penalties and a Brazilian unit admitted to violating a U.S. anti-bribery law, providing a relatively subdued ending to a seven-year investigation that spanned the globe and at one point looked poised to yield record foreign-corruption fines. In parallel announcements on Thursday, the Justice Department and the Securities and Exchange Commission faulted the country’s largest retailer over payments made to fast-track store openings in Mexico, China, Brazil, and India. Walmart will pay about $138 million in criminal penalties and $144 million in disgorgement to resolve the SEC’s allegations. Read more at Fortune.